Posted 7:31 a.m. Today opened within the tight trading range from the end of yesterday and continued with tight trading range, limit order trading initially. This increased the chances that today will spend a lot of time within tight trading ranges, and it reduces the chances that today will become a trend day. If it […]
Intraday market update: September 16, 2015
Intraday market update: September 15, 2015
Learning how to become a day trader requires patience
Posted 7:29 a.m. The bears got 4 consecutive bars on the open and then a lower high, but the bulls got a strong reversal up from just above the moving average. The bears saw this as a double top. When that happens, the bulls hope that any selloff will result in a double bottom and […]
Intraday market update: September 14, 2015
How to trade online when the price action is sideways
Posted 7:15 a.m. The Emini reversed down from yesterday’s wedge top and fell for 4 consecutive bars. It was Always In Short, but at the apex of a tight 60 minute triangle and at all 3 moving averages, which are flat. This is a bear leg within a trading range, and it is less likely […]
Emini weekend update: September 12, 2015:
Traders learning how to trade the markets see a pullback in bear trend
Monthly S&P500 Emini futures candlestick chart: Pullback in bull trend The monthly S&P500 Emini futures candlestick chart is holding support at the 20 month moving average The monthly S&P500 Emini futures candlestick chart finally pulled back to its moving average after 38 months above the average. It found buyers there. Since 38 months is extreme, […]
Intraday market update: September 11, 2015
Learn how to trade the markets when the price action is sideways
Posted 7:15 a.m. The Emini continued its broad bear channel from yesterday, but a broad channel with a wedge shape has about a 75% chance of a bull breakout. The bull breakout can be followed by a trading range or a swing up. There is a 25% chance of a strong bear breakout and then […]
Intraday market update: September 10, 2015
Learn how to trade futures when there are climactic reversals
Posted 7:37 a.m. Yesterday had a reasonable bottom attempt before the collapse into the close. There were theoretical scale in bulls who were buying near yesterday’s low, expecting a test back up to that trading range, just above the 60 minute moving average. The bears needed a strong breakout below yesterday’s low to make the […]
Intraday market update: September 9, 2015
Price action trading strategies in a buy climax
Posted 7:29 a.m. The Emini had a trend from the open bear trend at the top of the 5 and 60 minute channel and below the 1991 lower high. The selloff had reasonable follow-through after each big bear bar and the Emini is Always In Short. There is a 70% chance that we have seen […]
Intraday market update: September 8, 2015
Day trading tip is to expect bullish price action today or tomorrow
Posted 7:23 a.m. The Emini opened with a big gap up, but quickly sold off to a new low and it had trading range price action. Although today can still be a trend day, and the Emini is close to the bear trend line above, this type of price action increases the chances that today […]
Emini weekend update: September 5, 2015:
Candlestick pattern is a head and shoulders top
Monthly S&P500 Emini futures candlestick chart: More sideways to down likely The monthly S&P500 Emini futures candlestick chart finally pulled back to the moving average after 38 months above it. The monthly S&P500 Emini futures candlestick chart pulled back to the moving average after an extreme buy climax. The two prior times in the past 50 […]
Intraday market update: September 4, 2015
Learn how to trade the markets in a sell climax
Posted 7:20 a.m. The Emini opened with a big gap down, but it lacked momentum initially in either direction. This is trading range behavior. The Emini is oversold and the odds are that it will have at least a couple of hours of sideways to up trading today, but it needs a bottom. Yesterday was […]
